Related: 32 Best ETFs to Track Crude Oil
The Raymond James “analysts see production outside the U.S. being curbed by more than they had previously anticipated, which constitutes 400,000 fewer barrels of oil per day being produced in 2017 relative to their January estimate. In particular, they cite organic declines in China, Columbia, Angola, and Mexico as prompting this downward revision,” according to Bloomberg.
Last week, United States Commodity Funds (USCF), the issuer behind BNO and USO, said it is planning an exchange traded product that focuses on Canadian oil.
California-based USCF is working with Auspice Capital Advisors, Ltd. (Auspice), a Canada-based alternatives fund manager, to develop an ETF that tracks the price movements of the Canadian Crude Excess Return Index (CCIER).
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United States Oil Fund
